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Licence application process


Under MiCAR, the consideration period for a licence application for an issuer of asset-referenced tokens is 110 working days following our receipt of a fully completed application.

Published: 01 July 2024

We will start reviewing your application upon receipt. We will first verify whether the form has been fully completed, with all required documents attached.

If your application is complete, the consideration period will start and a team of our staff will assess your application.

If it is not complete, we will ask you to supplement the necessary information within a set deadline before the consideration period commences. See also: How long will it take to consider my application for a licence?

Required steps

The application procedure comprises several steps. For example, we may ask you to provide supplementary information (suspending the deadline for consideration), we may schedule a meeting with you, or we may need to assess your institution's policymakers. We have prepared an overview (below) of the steps that you may need to go through. Watch the animation about the practical aspects of applying for a licence. Specifically with regard to a licence application to issue asset-referenced tokens, we first prepare a draft decision. The EBA, ESMA and ECB then have the opportunity to issue an opinion on the draft decision within 20 working days. Finally, DNB will communicate the final decision on your application within 30 working days.

Quality of your application

The time needed to consider your application greatly depends on its standard and completeness and on the supplementary information that you provide. If this is insufficient, then we may likely need more than 110 business days to inform you of our decision.

Success factors

We have listed a number of factors that help ensure a successful application.

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